Background:
Nigeria needs $35 billion yearly, up till 2040, to cover its infrastructure expenditure.
President Muhammadu Buhari, realising that the government could not meet this huge cost, established the Presidential Infrastructure Development Fund (PIDF), with National Sovereign Wealth Authority, playing a vital role.
The PIDF helped in the realisation of critical projects, such as the Second Niger Bridge and the Lagos-Ibadan Expressway.
But the PIDF faced funding constraints, delays in project execution, leading to rising costs of materials, bureaucratic and institutional challenges.
The RHIDF
These challenges are what President Bola Ahmed Tinubu’s Renewed Hope…
Source: Nigerian Tribune
